DJM Realty to Dispose of All Remaining Linens ‘n Things Retail Store Leases and Distribution Centers in the U.S.

DJM Realty, a Gordon Brothers Group Company, announced that it has been selected to manage the national disposition of the remaining Linens ‘n Things 371 retail store leases and 3 distribution centers. The home furnishings specialty retailer Linens ‘n Things operated 551 U.S. locations in the beginning of 2008. On May 2, 2008, Linens ‘n Things filed to reorganize under Chapter 11 and since then DJM Realty has been disposing of the retailer’s real estate.

“Linens ‘n Things have built a portfolio in markets that are very difficult to enter, which creates a real opportunity to retailers,” said Michael Gries, Chief Executive Officer of Linens ‘n Things.

The 371 leases that are available for assignment in this bankruptcy sale are in the following states: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV .

“The Linens ‘n Things portfolio include some of the top retail real estate locations in the Northeast including the 1-95 corridor from Long Island to Boston, the Western Coast of Florida including the panhandle, Northern and Southern California, several markets throughout Chicago and prime Southeast United States locations,” said Andy Graiser, Co-President of DJM Realty, heading the Linens ‘n Things project.

In addition to disposing of the retail locations, DJM Realty is marketing 3 Linens ‘n Things distribution centers in New Jersey, North Carolina and Kentucky totaling 1.2 million square feet. The distribution center in Greensboro, NC is available for sale. The property consists of a 228,000 SF building with a 50,000 SF mezzanine on 24.2 (+/-) acres. “The Greensboro warehouse is well located, in close proximity to the airport and right off of the Interstate,” said Andy Graiser.

As with all Chapter 11 projects, the process moves fast and we are expecting an auction before December 15, 2008. Linens ‘n Things property details will be available shortly at http://www.djmrealty.com. For more information you can contact James Avallone at Javallone@djmrealty.com or 631-927-0024.

DJM Realty has worked with over 230 retail companies to dispose of their surplus or under-performing real estate. DJM Realty is a leader in finding innovative ways to consolidate and reconfigure real estate to achieve the highest possible value.

About DJM Realty

DJM Realty, a Gordon Brothers Group company, specializes in real estate dispositions, renegotiations of occupancy costs, acquisitions, valuations and capital solutions. DJM Realty has serviced the nation’s most recognizable brands in healthy and distressed situations. Bankruptcy clients include Avado Brands, Bombay, Chi Chi’s, Goody’s, Kmart, Rag Shop, The Sharper Image, The Wiz, and Winn-Dixie. DJM Realty was founded in 1992 and is headquartered in New York with offices in Los Angeles, Boston and Chicago. For more information, please visit http://www.djmrealty.com.